Assumptions 25% 80% 12% 10% 35% 25% roject 6 Due: November 15 by 5:30 PM Name Use the information provided in column H and the assumptions in column M to build a forecast income statement and balance sheet for 2022. Iterate until your forecast balance sheet balances. Follow the example we used in class lecture. Part 1 is worth 10 points. Income Statement Iterations 2021E 2022F2022F 2022F 2022F Net Sales 12.894 Cost of goods sold 10.315 Gross profit 2.579 Expenses Selling, general, and administrative expenses 1,547 Net interest expense 90 Earnings before tax 942 Tax 330 Earnings after tax 612 Dividends 153 Balance Sheet Iterations 2021E 2022F 2022F 2022F 2022F Assets Current assets Cash and securities 636 Accounts receivable 1.590 Inventory 2.579 Prepaid expenses 18 Total current assets Net fixed assets 300 Total assets 5,122 Liabilities and Owners' Equity Current liabilities Bank loan SO 0 Accounts payable 904 CMLTD 100 Accrued wages 18 Total current liabilities 1,072 Long-term debt 900 Common stock 250 Retained earnings 2.900 Total liabilities and owners' equity 5.122 balance 18 45 4 Keep constant days days turno 4,822 25 55 depre cape days plug 32 Keep constant Keep constant -0 Assumptions 25% 80% 12% 10% 35% 25% roject 6 Due: November 15 by 5:30 PM Name Use the information provided in column H and the assumptions in column M to build a forecast income statement and balance sheet for 2022. Iterate until your forecast balance sheet balances. Follow the example we used in class lecture. Part 1 is worth 10 points. Income Statement Iterations 2021E 2022F2022F 2022F 2022F Net Sales 12.894 Cost of goods sold 10.315 Gross profit 2.579 Expenses Selling, general, and administrative expenses 1,547 Net interest expense 90 Earnings before tax 942 Tax 330 Earnings after tax 612 Dividends 153 Balance Sheet Iterations 2021E 2022F 2022F 2022F 2022F Assets Current assets Cash and securities 636 Accounts receivable 1.590 Inventory 2.579 Prepaid expenses 18 Total current assets Net fixed assets 300 Total assets 5,122 Liabilities and Owners' Equity Current liabilities Bank loan SO 0 Accounts payable 904 CMLTD 100 Accrued wages 18 Total current liabilities 1,072 Long-term debt 900 Common stock 250 Retained earnings 2.900 Total liabilities and owners' equity 5.122 balance 18 45 4 Keep constant days days turno 4,822 25 55 depre cape days plug 32 Keep constant Keep constant -0